Target Market

When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes many college students, as an untapped group of potential customers for their new line of products, they were engaging in ________.

• occasion segmenting

• local marketing

• market diversification

• market targeting

Business information services such as Experian Marketing Services and Nielsen help marketers to ________.

• save significant amounts of money on shipping products

• spend more time identifying potential customers

• learn more specific details from consumers about their products

• segment people and locations into marketable groups of like-minded consumers

• expand their product offerings to interested clients and provide high-quality service to them

An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation.

• occasion

• geographic

• income

• benefit

• psychographic

What is the primary purpose of identifying a target market in social studies?

• To increase production costs

• To focus marketing efforts on specific groups

• To expand the product line

• To reduce the quality of products

Which of the following is a characteristic of a well-defined target market?

• It includes everyone in the population

• It is specific and measurable

• It is constantly changing

• It is based on random selection

In social studies, what does demographic segmentation involve?

• Dividing the market based on age, gender, income, etc.

• Grouping consumers by their favorite colors

• Segmenting based on the weather

• Classifying consumers by their shoe size

Why is psychographic segmentation important in identifying a target market?

• It focuses on consumers' physical characteristics

• It considers consumers' lifestyles and values

• It is based on consumers' geographic location

• It only targets high-income individuals

What is a benefit of targeting a niche market?

• Increased competition

• Higher marketing costs

• Less brand loyalty

• More focused marketing strategies

Which of the following is an example of geographic segmentation?

• Targeting teenagers

• Focusing on urban areas

• Segmenting by income level

• Targeting based on hobbies

How does behavioral segmentation help in identifying a target market?

• By analyzing consumers' purchasing habits

• By focusing on consumers' physical appearance

• By considering consumers' favorite sports

• By targeting consumers based on their height